Register

1. Josh bought a CD (Certificate of Deposit) for $4000 at a rate of 4% for 3 years. How much simple interest did he earn?

1. Josh bought a CD (Certificate of Deposit) for $4000 at a rate of 4% for 3 years. How much simple interest did he earn?
38.3k views
12 votes
1. Josh bought a CD (Certificate of Deposit) for $4000 at a rate of 4% for 3 years.

How much simple interest did he earn?

User Rahul Menon
by
7.2k points

1 Answer

10 votes

Answer:

4000/100 X 4 = 160

160 X 3 = 480

$480 interest

User Philipp Jahoda
by
8.3k points
ā† Prev Question Next Question ā†’

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!